i see some ridiculous trading move at mtgox of 0.01~0.10 btc @ 11.68 . is this bots trying to get a fix on the price? in any case i would not sell under 15$ . its not my estimate that this is what bitcoin worth. no one can estimate that. its my psychological barrier.

Seems like they are building their defences at the $11.00 dollars with over 5000 bitcoins bid wall.That seems the last wall that they can put up now, they are losing the battle for the single digits.

I think it is more complex than whether standing orders are fake or not.

For example, I had a small standing order at 11.52 and I cancelled it before we reached it. It is not because I have some devious plan for deception. I just saw a falling knife and decided not to try to catch it. I already bought some as it dropped and I am in no rush to buy more at this point. Might as well see where it stabilizes.

you can see today by the changes to the order book and market depth that people who were holding out for a rebound cashed out big time with like, ~10k sold @ 12.50. Market depth is out of whack now, so I'm curious to see what happens at the $11 buy wall.

I don't think this a difficult market move to figure out. It's the beginning of the month. Bills came in i.e. electricity. People need to pay them. I have the funds to wait out the bottom feeders. Hopefully smarter investors are taking possession. Flush out the panickers I say.

On a side note , I think MTGOX has been getting gamed for awhile. Have they reinstituted the previous transaction fees yet?

you can see today by the changes to the order book and market depth that people who were holding out for a rebound cashed out big time with like, ~10k sold @ 12.50. Market depth is out of whack now, so I'm curious to see what happens at the $11 buy wall.

It looks as if the 11$ wall is the last straw.. before a potential further fall.

Do you think those bid walls, say the $11 dollar bid wall is people actually wanting to buy bitcoins at that price or do you think that is people trying to hold the price from falling too low?

Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.

Maybe some of you want to take a look at http://test.bitcoinreminder.com, its a realtime email/sms notification service and new project from me and still in beta.. But its cool, you can set limits and get email notifications if the rate dropps below your limit.. Its free, maybe you want to take a look at it to stay up to date...